Wealth can’t buy marital bliss, but it seems that a certain amount of wealth can lead to a more amicable divorce.
What does a couple’s net worth need to be to settle their divorce amicably?
Couples with a higher net worth (defined as $5 million or more in combined assets) may be able to happily come to a consensus with one another much more easily than others with less financial resources. The author attributes this to the fact that a divorce doesn’t put these couples under significant financial strain in the same way that it does with others with less wealth.
There’s a fine line in terms of how much wealth a couple needs to have to avoid their divorce becoming contentious, says the article’s author. They note that upper-middle-class couples, which they describe as couples with between $1 and $5 million in assets between them, typically fear experiencing some socioeconomic fallout when they divorce. They often fight over money or property as a result. Only when they are past that point do the tensions seem to ease.
The article’s author notes that expenses are ever-increasing, however. Lawmakers continually reassess alimony, child support and property division laws. These factors may motivate the spouse with the smaller income or fewer assets to fight harder for any money that they can gain in a settlement.
Many spouses of means also take the step to draft prenuptial agreements before they marry. The presence of legal documents such as these tends to significantly impact how quickly a couple can resolve their divorce and how the property split goes.
How can an attorney can help you settle your divorce?
Negotiating a settlement in a divorce is like playing chess. You have to be very strategic about the moves that you make. The best thing you can do if you sense that your Massachusetts marriage’s dissolution is on the horizon is to consult with a high net worth divorce attorney. They’ll be able to prepare you for what’s sure to come in your Lexington case so that you have a say as to what happens in the future.